Crypto PACs Flex Political Muscle In High-Stakes Texas Runoffs
Bets on the Texas Republican Senate primary runoff topped $16 million in total volume on prediction platform Kalshi, which gave crypto-backed candidate Ken Paxton a 96% chance of defeating incumbent John Cornyn heading into Tuesday’s vote. Related Reading: Crypto Founder Takes Seat On SpaceX Journey To Mars The Kalshi platform had consistently favored the Democratic […]
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Following a successful showing in 2024 US elections, the cryptocurrency industry is significantly increasing its political spending in preparation for the 2026 midterms. A number of super political action committees (PACs) focused on crypto are pooling together a major $263 million war chest, according to Bloomberg. Fairshake Leads With $141 Million The legislative victories with […]
Kraken has pledged to donate $2 million to two pro-crypto political action committees (PACs) to continue supporting the fight for the “core rights” of individuals and protect privacy and innovation in the US. Related Reading: SEC Eyes More Crypto Clarity: ‘Innovation Exemption’ Could Come By Year-End – Chair Atkins Kraken Commits $2M For Crypto Rights […]
The Republican Party of Louisiana (LAGOP) is now accepting contributions in bitcoin via its official website. Only New York state has made the same move within the Republican Party, as have the Libertarian Party of Louisiana and the Libertarian Party of Texas. The news follows guidance from the US Federal Election Commission (FEC) determining that political campaigns and political action committees (PACs) can accept bitcoin as a form of in-kind donation under current federal election laws. Speaking to CoinDesk, LAGOP executive director Jason Doré said other states may soon follow suit as....
With less than six months until US voters pick their next Congress, political action committees backed by crypto are making clear they intend to shape who gets elected — and who doesn’t. Related Reading: America’s Crypto Future Is Unstoppable, According To Eric Trump A War Chest With Deep Pockets Fairshake, a PAC funded by crypto […]
If approved, cryptocurrency donations and contributions will need to be reported as in-kind contributions or as investments, not currency. The proposal was filed with the Texas Secretary of State, which sought to address and clarify the reporting requirements of political contributions made with cryptocurrencies. According to the filing:“The new rule permits candidates, officeholders, and political committees to accept cryptocurrency. It does not distinguish between any types of cryptocurrencies, like Bitcoin.”If approved, cryptocurrency donations and contributions will need to be reported....